Pi Network (PI) is currently trading at $0.59, down over 30% in the last 14 days
119 million Pi tokens are expected to be released by month-end, with 1.4 million already unlocked on April 11
Community frustration is growing over delays, lack of transparency, and management style
A potential token burn strategy is being considered to address oversupply issues
Recent bullish signals include a 6% price spike and reported acquisition of 1.2 million tokens by Banxa in 48 hours
Pi Network (PI) is facing significant price pressure as it currently trades around $0.59, struggling to break above the key resistance level of $0.60. The token has experienced a steep decline in recent days, dropping over 30% in the last 14 days and more than 80% below its February 26th peak.
A major factor contributing to the downward pressure is the ongoing token unlock. According to PiScan, more than 119 million Pi tokens are expected to enter circulation this month alone. On April 11, 1.4 million tokens were already unlocked, with the remaining set to be released gradually throughout the rest of April.
The price struggles come at a time when community sentiment is worsening. Pi Network Turkey, the project’s largest community group in the region, recently issued a strong statement criticizing the core team’s approach to managing the project.
The group expressed disappointment with what they describe as a top-down management style. They accused developers of ignoring community feedback and deviating from the platform’s original decentralized vision.
“What we once eagerly anticipated has now turned into disappointment,” the statement read. The group highlighted broken promises, lack of transparency, and indefinite delays to the Open Mainnet launch as key concerns.
Community Trust Eroding
Other issues raised by the community include unclear financials, vague details on partnerships, and little visibility into the actual number of live decentralized applications (dApps) on the network.
Some analysts believe the sharp decline in Pi’s value stems not only from token unlocks but also from growing skepticism about the project’s long-term vision and deliverables. As questions mount over whether Pi Network is truly building a meaningful Web3 ecosystem or simply riding crypto hype, the project’s credibility appears increasingly at risk.
PI Network $PI has broken out and is retesting the trendline
Buyers need to step in and hold price above $0.546
The price of Pi Network in India as of April 11, 2025, stands at ₹51.37, reflecting the global downtrend in the token’s value.
Token Burn Strategy Emerges
In response to oversupply concerns, a token burn strategy is being considered. This approach has become a familiar tactic in cryptocurrency markets: reducing supply to create scarcity and potentially lift prices.
For Pi Network, which minted billions of tokens early in its development, the supply glut has become a core problem. A successful burn strategy could signal a shift toward a deflationary model that might rebuild trust and attract investor interest.
Some proposed burn mechanisms include periodic burns, burns tied to mining or transaction activity, and community-initiated burns that reward participation. If implemented correctly, this could embed scarcity into the system and reset market expectations.
However, challenges remain. Pi Coin isn’t widely tradable, and without major exchange listings, even a large burn might have limited near-term price effects. Liquidity remains low, and without a robust working ecosystem, user interest could fade before these changes gain traction.
Technical Analysis Shows Mixed Signals
From a technical perspective, Pi Network’s price action shows a turbulent decline followed by consolidation. The token found strong support in the $0.43-$0.46 range after a sharp fall, suggesting a local bottom before bouncing.
Although a failed breakout from a descending wedge occurred, a strong bullish candle briefly pushed Pi’s price above $0.75, before renewed selling pressure emerged. The rally quickly lost momentum, and the price adjusted into a narrower range between $0.55 support and $0.60 resistance.
Several breakout attempts have been rejected, indicating uncertainty among investors. With the Relative Strength Index (RSI) at 57.06, momentum is beginning to lean bullish. Recent golden and death crosses on the Moving Average Convergence Divergence (MACD) reflect shifting sentiment among traders.
Recent Bullish Developments
Despite the overall negative trend, some positive developments have emerged. Pi Network’s price captured attention after a strong 6% surge, reaching close to $0.65 before stabilizing around $0.60. This spike aligned with the broader recovery of the cryptocurrency market and strategic advancements by the Pi Network team.
Reports suggest that Banxa recently acquired over 30 million PI tokens. According to sources on social media, 1.2 million PI tokens were purchased from Banxa within just 48 hours. These large-scale acquisitions hint at deepening trust in the Pi ecosystem.
Pi Network has also announced a new collaboration with Banxa, which could help reinforce positive momentum surrounding the token. The team continues to work on rolling out decentralized applications and moving closer to an open mainnet phase.
As these developments unfold, the coming weeks will be crucial for determining whether Pi Network can overcome its current challenges and regain a positive trajectory in the cryptocurrency market.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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